thecryptobasic.com
The latest data from Ripple’s API indicates a significant upswing in the company’s public marketing of XRP for the current month.
Prominent XRP figure Mr. Huber took to X to call public attention to the eye-opening information following an update to the record captured via the Ripple API.
Ripple’s December XRP Sale So Far
Specifically, the updated record for December 24 indicated Ripple’s XRP balance was drained of 60,159,086 XRP tokens. In other words, Ripple has traded over $37 million more XRP for the month.
Meanwhile, the record from Ripple API indicated the payment firm released 59,443,728 XRP to the public market on December 17. Similarly, Ripple sold 48,155,771 XRP the previous week with a market value of approximately $30 million.
Cumulatively, the San Francisco-based crypto payment firm has unleashed 167,758,585 XRP between December 10 and December 24. This extraordinary sales figure amounted to a staggering $104,010,323 based on an average price of $0.62 per XRP.
Note that Ripple has a tradition of buying back a portion of the sold XRP. This typically occurs in the opening week of each month. For instance, Ripple repurchased 131,092,729 XRP on December 3, having sold 235,857,273 XRP in November.
Technically, the payment firm marketed 104,764,544 XRP tokens for November. This deal took place at a dollar value of approximately $63.9 million.
Ripple Traded 571M XRP Since July
Meanwhile, the data from the API suggested Ripple marketed 571,853,163 XRP for the last six months. This figure takes into account the sales and buyback endeavors. XRP’s average price throughout this period stands at $0.55.
Basically, the American payment firm has unleashed over half a billion XRP tokens to the public since July for a dollar value of $314,519,239. This translates to an average of $52,419,873 deal per month.
Interestingly, Ripple’s three-week XRP sale for this month now sits at over $104 million, exceeding six months’ average by two. As a result, Mr. Huber speculated that the company might be gearing up for a considerable buyback to counterbalance the surge in sales.
Notably, a new record for Ripple’s XRP dealings is expected on December 31, with a buyback date of January 7, 2024. The Ripple API data indicated the firm’s XRP spendable wallet has a balance of 5,162,951,201 (5.16 billion) XRP with 40.7 billion tokens in escrow.